Are law firms putting their bottom lines at risk? According to Catalyst's Women of Color in U.S. Law Firms report, women of color face complex barriers compared to other groups that may significantly decrease job satisfaction and increase the intent to leave their current firm — factors that affect a firm's bottom line. The study is the fourth and final in Catalyst's Women of Color in Professional Services Series examining how the "intersectionality," or combined identities of gender and race/ethnicity, puts women of color at a unique disadvantage in the workplace.

Despite widespread existence of systems created to develop and advance women of color, research has shown that more than 75% of these women will leave their employer within five years, costing an amount potentially greater than each person's total salary and benefits.

"We've seen many law firms make significant inroads towards advancing more women into partnership and leadership," said Ilene H. Lang, president & chief executive officer, Catalyst. "Yet retention and advancement of women of color attorneys is still a challenge. Law firms are well positioned — and it will be to their advantage — to take the next critical step to address the unique differences among women, which can lead to more successful outcomes."

The report, which explores the workplace experiences of women of color compared with those of men of color and white women and men, identifies challenges unique to women of color, which include:

A greater sense of "outsider status" and limited growth opportunities

Racial and gender stereotyping and more feelings of sexism in the workplace compared with white women

Lack of access to high-profile client assignments and important client engagements

Missed opportunities for candid feedback

The report recommends the following to attract and retain women of color employees:

Include senior leaders as active players in building and establishing inclusive workplaces.

Raise awareness of intersectionality and the varying needs of differing minority groups.

Create opportunities for dialogue between firm leadership and women of color attorneys.

Educate all attorneys, especially partners and other supervising attorneys, on how to recognize bias and stereotyping of women of color in the workplace.

Monitor and track the career development of women of color and hold leaders accountable for their advancement.

For the quantitative portion of this study, a survey tool was distributed to a sample of lawyers working at the top 25 (by revenue) law firms in the United States. The qualitative portion of this study consisted of interviews with senior partners in a subsample of participating U.S. law firms. Catalyst also conducted focus groups with women of color (Asian women, black women and Latinas) in a subsample of firms.